Singapore-based venture capital firm Resolution Ventures has reportedly held the first close of its new $20m investment fund.
Resolution Fintech Fund I will focus on early-stage FinTech companies, according to a report from Tech in Asia. The investment vehicle is managed by family office Blauwpark Partners.
One of the companies in Resolution’s portfolio is Oraan, a rotating credit and savings association platform that aims to make finance more inclusive to women in emerging markets.
Other companies in its portfolio are Vietnamese earned wage access startup Gimo, autonomous decision science for supply chains and finance Stemly, and B2B e-ordering and invoicing platform Dropee.
Singapore’s FinTech sector has exploded in popularity in the past year. Total funding more than tripled in 2021 compared to 2020. Last year, a total of $3.4bn was raised across 207 transactions.
FinTech companies in the country have continued raising funds in 2022. Last week, Singapore-based Finbots.AI bagged $3m for its credit risk solution and last month, InsurTech starup Igloo netted $19m in funding.
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